Long-standing Products Keep Apple Growing

Apple reported a 5% year-on-year increase in revenues for the quarter ending March 29th to 95.4 billion US dollars, despite a headwind of almost 2.5 percentage points from currency movements. While product revenues were up 3%, that growth was fuelled by iPhone, iPad and Macbook sales, rather than new product categories.

Apple didn't provide an update on Vision Pro sales. However, it did say that Dassault Systèmes, a leading provider for engineering and 3D design software, has integrated Apple Vision Pro into its next-generation platform, "bringing a powerful and immersive spatial experience to thousands of enterprise customers."

Total wearables, home and accessories revenue was down 5% year-over-year at 7.5 billion dollars, even though Apple noted the installed base of Apple Watch wearers continues to grow. Source: Apple

Meta Claims Threefold Increase in Smart Glasses Sales

Meta's Reality Labs division reported a 6% year-on-year fall in revenue for the first quarter to 412 million US dollars, as lower sales of Meta Quest VR headsets were only partially offset by increased sales of Ray-Ban Meta AI glasses. Reality Labs' operating loss was 4.2 billion dollars.  

Still Mark Zuckerberg, CEO of Meta, said that sales of Ray-Ban Meta AI glasses have tripled in the last year. "We've got some exciting new launches with our partner EssilorLuxottica later this year as well that should expand that category and add some new technological capabilities to the glasses," he added. 

Zuckerberg went on to note that "more than a billion people worldwide wear glasses today, and it seems highly likely that these will become AI glasses over the next 5 to 10 years....We’re seeing very strong traction with Ray-Ban Meta AI glasses, with over 4x as many monthly actives as a year ago, and the number of people using voice commands is growing even faster as people use it to answer questions and control their glasses. This month, we fully rolled out live translations on Ray-Ban Meta AI glasses to all markets for English, French, Italian, and Spanish. Now, when you are speaking to someone in one of these languages, you’ll hear what they say in your preferred language through the glasses in real time."  Source: Meta earnings transcript